GMAC stops buuying homes in MASS

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GMAC Real Estate is closing 15 offices in Massachusetts and New Hampshire and laying off staff as home selling and shopping increasingly migrate to the Internet amid a housing slump. Many baby boomers are buying second homes, and their children – like many immigrants who have arrived in the last generation – are destined, in this view, to buy their first, continuing to stoke demand.

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On Friday, GMAC Mortgage, the mortgage origination and servicing operation of Ally Financial Inc., announced that it would stop purchasing mortgage loans from the third party in Massachusetts..

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(Reuters) – GMAC Mortgage, the mortgage arm of Ally Financial Inc, said on Friday it will stop buying new mortgage loans in Massachusetts that were made by other correspondent lenders and wholesale.

GMAC to stop some mortgage loans in Massachusetts. Ally Financial was the state’s fourth-largest mortgage lender, when ranked by volume of loans sold to Fannie Mae and Freddie Mac, through the first six months of 2011, said Guy Cecala, publisher of Inside Mortgage Finance, an industry trade publication.

GMAC stops buuying homes in MASS Florida Realtor Magazine – Current Issue Hello World! But those early letdowns can provide a valuable (if heartbreaking) crash course in home buying, Presti says. have school systems that would be the envy of other areas. "Our schools in Massachusetts.

RISMEDIA, June 16, 2009-kinlin grover gmac real estate, one of Massachusetts’ most-respected residential. what it will mean in terms of benefits to clients when it comes to buying, selling or.

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GMAC Mortgage. The size of the company’s overall market share in Massachusetts is unclear because of the way mortgages are bought and sold. Earlier this year, Bank of America said it would stop.

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